New Articles
  January 16th, 2024 | Written by

Packaging Adhesive Market Size Journey Towards USD 23,000 Million by 2032

[shareaholic app="share_buttons" id="13106399"]

The global packaging adhesive market size is set for a remarkable journey towards USD 23,000 million by 2032. This substantial growth, soaring from USD 12,540 million in 2022, signifies a compelling compound annual growth rate (CAGR) of 6.3% between 2023 and 2032.

Important Revelation:

  • Global packaging adhesive market projected at USD 23,000 million by 2032.
  • Asia Pacific leads the way in packaging adhesive supremacy by 40% market share.
  • North America’s ascension as the second premier market for packaging adhesives.
  • Water-based adhesives spearhead technological advancements in the packaging industry.
  • Flexible packaging commands the packaging adhesive revolution.

The packaging adhesive market is witnessing several trends that are shaping its trajectory globally. One prominent trend is the increasing emphasis on sustainability. With growing environmental concerns, there is a rising demand for eco-friendly packaging adhesives. This includes the adoption of water-based adhesives, which are considered more environmentally friendly than solvent-based alternatives. Manufacturers are investing in research and development to create adhesives that offer high performance while minimizing their impact on the environment. Both regulatory requirements and consumer preferences for sustainable packaging solutions drive this trend.

Asia Pacific Leads the Way in Packaging Adhesive Supremacy

The Asia Pacific region has emerged as a dominant force in the packaging adhesive market, and several key factors contribute to its commanding position. In Asia, economic growth was approximately 3.5 per cent. One of the primary drivers is the rapid pace of industrialization and urbanization in countries such as China and India. 

China alone contributed to around 20% of the world’s adhesives. As these nations continue to undergo significant economic development, there is a parallel surge in the demand for packaged goods, ranging from food and beverages to consumer products. This escalating demand, driven by a rising population and increasing disposable income, propels the need for efficient and reliable packaging solutions, thereby fuelling the demand for packaging adhesives.

For Instance,

  • In November 2022, Bostik, a well-known international adhesive expert for the customer, building, and industrial industries, introduced two cutting-edge products for the Indian tape and label market.

The region’s dynamic economic growth has also led to the expansion of various end-use industries, notably the food and beverage sector. With changing lifestyles and preferences, there is an escalating trend toward packaged and convenience foods, creating a substantial market for packaging adhesives. Additionally, the robust growth of the manufacturing sector in the Asia Pacific region further amplifies the demand for packaging materials and adhesives, given their integral role in securing and sealing diverse packaging formats.

For Instance,

  • In October 2021, Henkel launched a RE-product line to help promote a circular economy. A new variety of adhesives and varnishes allows for better packaging recycling.

Water-Based Adhesives Spearhead Technological Advancements in the Packaging Industry

In the ever-evolving landscape of adhesive technologies, water-based adhesives emerge as frontrunners, leading the charge in the packaging adhesive market. The supremacy of water-based adhesives is rooted in their eco-friendly attributes, low Volatile Organic Compound (VOC) emissions, and unwavering compliance with stringent environmental regulations. Renowned for their versatility, these adhesives exhibit robust bonding capabilities across various substrates without compromising safety standards.

For Instance,

  • In Feb 2021, H.B. Fuller introduced a novel water-based glue for the paper straw business. The new Swift Tak 5730 adhesive will aid in producing consumer-safe, liquid-resistant paper straws.

Flexible Packaging Commands the Packaging Adhesive Revolution

Flexible packaging emerges as the vanguard among application segments, paving the way for a transformative era. The surge in adopting flexible packaging is underpinned by its trifecta of virtues lightweight design, cost-effectiveness, and unparalleled convenience. Industries at the forefront of consumer engagement, such as food and beverage, healthcare, and personal care, are leading the charge in the widespread embrace of flexible packaging formats. By 2025, the market value of the global flexible packaging industry is expected to reach USD 278.9 billion. The flexible packaging market is anticipated to be driven by consumer demand for customer-friendly Packaging and increased product protection. 

Browse More Insights of Towards Packaging:

  • The global cosmetic packaging market size accounted for USD 33.07 billion in 2022 to reach USD 54.13 billion by 2032 at 4.5% CAGR from 2023 to 2032.

  • The global edible packaging market size current valuation, standing at USD 1.4 billion in 2022 projected to culminate zenith of USD 5.26 billion by 2032 at 14.2% CAGR between 2023 and 2032.

  • The global active packaging market size is estimated to grow from USD 19.2 billion in 2022 at 7.5% CAGR to reach an estimated USD 39.51 billion by 2032, between 2023 and 2032.

  • The global antimicrobial packaging market size was at USD 10.77 billion in 2022 to hit around USD 18.81 billion by 2032, at 5.7% CAGR between 2023 to 2032.

  • The global automotive packaging market size is estimated to grow from USD 8.18 billion in 2022 to reach an estimated USD 13.87 billion by 2032, at 5.4 % CAGR between 2023 and 2032.

For Instance,

  • In September 2023, Brilliant Polymers, a flexible packaging laminating adhesives developer, launched two new and highly creative product lines developed by the firm at the just-ended 10th Specialty Films & Flexible Packaging Global Summit 2023.

Competitive Landscape:

The packaging adhesive market features a competitive landscape, with key players vying for market share and striving for technological advancements. Major players in the industry include Henkel AG & Co. KGaA, 3M Company, H.B. Fuller Company, and Bostik, Arkema Group, among others. These companies are engaged in strategic initiatives such as mergers and acquisitions, product innovations, and partnerships to strengthen their market position.

Packaging Adhesive Market Key Players

  • Henkel AG & Co. KGaA
  • Arkema S.A.
  • H.B. Fuller Company
  • Dow Inc.
  • Bostik SA (an Arkema company)
  • Ashland Global Holdings Inc.
  • Avery Dennison Corporation
  • Dymax Corporation
  • 3M Company
  • Jowat SE